The Caldwell B. L. Assn. v. Henry

This is a vendor's bill for specific performance. The Association was seized of premises in Essex Fells, and defendants owned a house and lot in Caldwell subject to two mortgages aggregating $6,400. On October 23d 1934, the Association contracted to sell defendants the Essex Fells property for $10,000 to be paid or satisfied as follows: $100 forthwith, $300 on delivery of the deed, $7,000 by purchase-money mortgage, and the balance, $2,600, by the conveyance to the Association of the property in Caldwell. Further, the Association agreed to assume the mortgages on the Caldwell property. The…